Denver FHA Loan Rates, Closing Costs & Stats
DENVER-AURORA-LAKEWOOD, CO
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Denver's 227 lenders originated 9,145 FHA loans during 2022. The total origination value was $3,865,595,000, with an average FHA loan value of $422,700.
Denver FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Denver
averaged
6.44%
for the week of 2023-12-01, compared to the national average (all FHA variants) of
6.949% for the same period.
Denver's average FHA mortgage closing costs are $10,716.
The average rate for the prior week (2023-11-24) was
6.75% and
one month ago for the week of 2023-10-27, the
average rate was 6.96%.
The average rate one year ago was 6.18%.
For refis of the same type during the week of 2023-12-01, the average rate
was 5.34%.
Denver FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Denver level.
The top Denver FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
723 FHA loans originated. Their average total fees are
$14,337, which is $273
higher than the next largest lender,
AMERICAN FINANCING CORPORATION.
The lowest fee Denver FHA lenders (with over 10 loans originated) are
NOVA FINANCIAL & INVESTMENT CORPORATION ($3,572), CHERRY CREEK MORTGAGE, LLC ($6,690), LAKEVIEW LOAN SERVICING, LLC ($9,285), EVERETT FINANCIAL, INC. ($10,128) and VILLAGE CAPITAL MORTGAGE ($10,211).
The lowest rate Denver FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (3.41%), VILLAGE CAPITAL MORTGAGE (3.90%), Lakeview Community Capital, LLC (3.97%), HOME POINT FINANCIAL CORPORATION (4.04%) and Mr. Cooper ( Nationstar Mortgage ) (4.04%).
Denver FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO | ADAMS | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ARAPAHOE | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | BROOMFIELD | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | CLEAR CREEK | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | DENVER | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | DOUGLAS | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ELBERT | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | GILPIN | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | JEFFERSON | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | PARK | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ADAMS | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | ARAPAHOE | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | BROOMFIELD | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | CLEAR CREEK | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | DENVER | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | DOUGLAS | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | ELBERT | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | GILPIN | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | JEFFERSON | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
| DENVER-AURORA-LAKEWOOD, CO | PARK | 2023 | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $521,911 (4.5%) | $711,613 (4.1%) | 1.94 | 3,796 |
| 2018-02-01 | $520,428 (4.1%) | $710,381 (3.0%) | 1.89 | 3,929 |
| 2018-03-01 | $520,000 (4.0%) | $713,143 (3.2%) | 1.82 | 4,296 |
| 2018-04-01 | $545,000 (9.0%) | $759,667 (11.5%) | 1.85 | 4,875 |
| 2018-05-01 | $532,463 (6.5%) | $742,206 (10.1%) | 1.78 | 5,451 |
| 2018-06-01 | $520,000 (4.5%) | $717,992 (8.0%) | 1.73 | 6,460 |
| 2018-07-01 | $499,950 (1.0%) | $695,789 (5.2%) | 1.67 | 7,129 |
| 2018-08-01 | $495,000 (2.2%) | $673,163 (2.9%) | 1.66 | 7,432 |
| 2018-09-01 | $489,000 (0.9%) | $663,732 (1.3%) | 1.64 | 7,892 |
| 2018-10-01 | $479,900 (-1.0%) | $645,913 (-1.8%) | 1.63 | 8,098 |
| 2018-11-01 | $474,950 (-3.9%) | $639,484 (-5.4%) | 1.61 | 7,721 |
| 2018-12-01 | $479,000 (-7.8%) | $647,584 (-8.0%) | 1.65 | 6,235 |
| 2019-01-01 | $487,500 (-6.6%) | $656,044 (-7.8%) | 1.68 | 5,453 |
| 2019-02-01 | $499,750 (-4.0%) | $671,756 (-5.4%) | 1.69 | 5,496 |
| 2019-03-01 | $515,386 (-0.9%) | $683,243 (-4.2%) | 1.69 | 5,923 |
| 2019-04-01 | $523,711 (-3.9%) | $689,270 (-9.3%) | 1.66 | 6,479 |
| 2019-05-01 | $515,000 (-3.3%) | $676,607 (-8.8%) | 1.61 | 7,490 |
| 2019-06-01 | $515,000 (-1.0%) | $668,417 (-6.9%) | 1.61 | 8,377 |
| 2019-07-01 | $500,000 (0.0%) | $657,002 (-5.6%) | 1.57 | 8,892 |
| 2019-08-01 | $498,564 (0.7%) | $655,004 (-2.7%) | 1.58 | 8,768 |
| 2019-09-01 | $496,559 (1.6%) | $653,591 (-1.5%) | 1.59 | 8,616 |
| 2019-10-01 | $495,223 (3.2%) | $652,978 (1.1%) | 1.60 | 8,439 |
| 2019-11-01 | $499,000 (5.1%) | $666,656 (4.3%) | 1.64 | 7,183 |
| 2019-12-01 | $497,495 (3.9%) | $674,594 (4.2%) | 1.66 | 6,118 |
| 2020-01-01 | $527,480 (8.2%) | $736,167 (12.2%) | 1.76 | 3,875 |
| 2020-02-01 | $550,000 (10.1%) | $778,147 (15.8%) | 1.80 | 3,604 |
| 2020-03-01 | $555,212 (7.7%) | $781,941 (14.5%) | 1.74 | 4,292 |
| 2020-04-01 | $542,500 (3.6%) | $729,462 (5.8%) | 1.70 | 4,933 |
| 2020-05-01 | $545,000 (5.8%) | $728,600 (7.7%) | 1.66 | 5,843 |
| 2020-06-01 | $547,000 (6.2%) | $734,370 (9.9%) | 1.61 | 6,523 |
| 2020-07-01 | $540,075 (8.0%) | $739,959 (12.6%) | 1.57 | 6,040 |
| 2020-08-01 | $539,000 (8.1%) | $747,040 (14.1%) | 1.54 | 5,747 |
| 2020-09-01 | $522,000 (5.1%) | $749,906 (14.7%) | 1.50 | 5,361 |
| 2020-10-01 | $515,000 (4.0%) | $750,604 (15.0%) | 1.48 | 4,864 |
| 2020-11-01 | $519,675 (4.1%) | $769,748 (15.5%) | 1.52 | 3,925 |
| 2020-12-01 | $530,601 (6.7%) | $801,998 (18.9%) | 1.58 | 2,900 |
| 2021-01-01 | $525,000 (-0.5%) | $814,286 (10.6%) | 1.57 | 2,290 |
| 2021-02-01 | $539,849 (-1.9%) | $828,665 (6.5%) | 1.57 | 2,148 |
| 2021-03-01 | $555,000 (0.0%) | $846,872 (8.3%) | 1.58 | 2,241 |
| 2021-04-01 | $575,000 (6.0%) | $889,826 (22.0%) | 1.56 | 2,217 |
| 2021-05-01 | $595,000 (9.2%) | $897,109 (23.1%) | 1.58 | 2,290 |
| 2021-06-01 | $599,385 (9.6%) | $875,574 (19.2%) | 1.58 | 3,094 |
| 2021-07-01 | $600,000 (11.1%) | $852,044 (15.2%) | 1.58 | 3,726 |
| 2021-08-01 | $600,000 (11.3%) | $841,408 (12.6%) | 1.60 | 3,851 |
| 2021-09-01 | $599,950 (14.9%) | $845,501 (12.8%) | 1.60 | 3,839 |
| 2021-10-01 | $615,000 (19.4%) | $846,985 (12.8%) | 1.64 | 3,580 |
| 2021-11-01 | $618,238 (19.0%) | $864,009 (12.3%) | 1.65 | 2,728 |
| 2021-12-01 | $627,035 (18.2%) | $899,894 (12.2%) | 1.70 | 1,888 |
| 2022-01-01 | $640,441 (22.0%) | $980,060 (20.4%) | 1.73 | 1,442 |
| 2022-02-01 | $647,725 (20.0%) | $985,242 (18.9%) | 1.68 | 1,522 |
| 2022-03-01 | $662,450 (19.4%) | $971,866 (14.8%) | 1.66 | 1,841 |
| 2022-04-01 | $677,000 (17.7%) | $963,826 (8.3%) | 1.61 | 2,361 |
| 2022-05-01 | $695,000 (16.8%) | $942,773 (5.1%) | 1.59 | 3,428 |
| 2022-06-01 | $680,000 (13.5%) | $883,541 (0.9%) | 1.51 | 4,769 |
| 2022-07-01 | $650,000 (8.3%) | $839,665 (-1.5%) | 1.46 | 6,181 |
| 2022-08-01 | $636,483 (6.1%) | $820,701 (-2.5%) | 1.47 | 6,472 |
| 2022-09-01 | $626,685 (4.5%) | $819,787 (-3.0%) | 1.47 | 6,494 |
| 2022-10-01 | $620,000 (0.8%) | $827,246 (-2.3%) | 1.46 | 6,577 |
| 2022-11-01 | $608,700 (-1.5%) | $826,317 (-4.4%) | 1.46 | 6,027 |
| 2022-12-01 | $600,000 (-4.3%) | $831,631 (-7.6%) | 1.48 | 4,619 |
| 2023-01-01 | $600,000 (-6.3%) | $860,351 (-12.2%) | 1.49 | 3,767 |
| 2023-02-01 | $632,475 (-2.4%) | $919,548 (-6.7%) | 1.53 | 3,300 |
| 2023-03-01 | $654,950 (-1.1%) | $973,211 (0.1%) | 1.54 | 3,429 |
| 2023-04-01 | $679,000 (0.3%) | $974,502 (1.1%) | 1.58 | 3,977 |
| 2023-05-01 | $682,450 (-1.8%) | $973,522 (3.3%) | 1.55 | 4,378 |
| 2023-06-01 | $680,000 (0.0%) | $959,726 (8.6%) | 1.53 | 5,062 |
| 2023-07-01 | $675,000 (3.9%) | $938,445 (11.8%) | 1.53 | 5,515 |
| 2023-08-01 | $659,950 (3.7%) | $910,334 (10.9%) | 1.52 | 5,882 |
| 2023-09-01 | $649,000 (3.6%) | $896,750 (9.4%) | 1.51 | 6,346 |
| 2023-10-01 | $635,000 (2.4%) | $885,482 (7.0%) | 1.49 | 6,569 |
| 2023-11-01 | $625,000 (2.7%) | $870,201 (5.3%) | 1.49 | 6,205 |
Denver's median listing price comes in at 149% of the national average.
Denver's average listing price for 2023-11-01 was $870,201, a difference of $43,884 (5.3%) versus the prior year and $-15,281 versus the prior month.
For the 2023-11-01 period, Denver had 6,205 MLS listings, a difference of -364 listings (-6%) versus the prior month and 178 listings (3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 54 days | 2,763 sqft |
| 2018-02-01 | 31 days | 2,783 sqft |
| 2018-03-01 | 24 days | 2,772 sqft |
| 2018-04-01 | 23 days | 2,920 sqft |
| 2018-05-01 | 23 days | 2,877 sqft |
| 2018-06-01 | 24 days | 2,771 sqft |
| 2018-07-01 | 30 days | 2,710 sqft |
| 2018-08-01 | 32 days | 2,629 sqft |
| 2018-09-01 | 36 days | 2,592 sqft |
| 2018-10-01 | 37 days | 2,495 sqft |
| 2018-11-01 | 44 days | 2,467 sqft |
| 2018-12-01 | 57 days | 2,460 sqft |
| 2019-01-01 | 56 days | 2,466 sqft |
| 2019-02-01 | 31 days | 2,478 sqft |
| 2019-03-01 | 30 days | 2,524 sqft |
| 2019-04-01 | 28 days | 2,581 sqft |
| 2019-05-01 | 26 days | 2,568 sqft |
| 2019-06-01 | 30 days | 2,561 sqft |
| 2019-07-01 | 36 days | 2,510 sqft |
| 2019-08-01 | 38 days | 2,476 sqft |
| 2019-09-01 | 39 days | 2,441 sqft |
| 2019-10-01 | 42 days | 2,418 sqft |
| 2019-11-01 | 50 days | 2,401 sqft |
| 2019-12-01 | 60 days | 2,307 sqft |
| 2020-01-01 | 61 days | 2,539 sqft |
| 2020-02-01 | 32 days | 2,859 sqft |
| 2020-03-01 | 23 days | 2,766 sqft |
| 2020-04-01 | 33 days | 2,677 sqft |
| 2020-05-01 | 37 days | 2,699 sqft |
| 2020-06-01 | 31 days | 2,515 sqft |
| 2020-07-01 | 31 days | 2,410 sqft |
| 2020-08-01 | 30 days | 2,259 sqft |
| 2020-09-01 | 30 days | 2,134 sqft |
| 2020-10-01 | 30 days | 2,015 sqft |
| 2020-11-01 | 38 days | 1,922 sqft |
| 2020-12-01 | 48 days | 1,893 sqft |
| 2021-01-01 | 38 days | 1,871 sqft |
| 2021-02-01 | 17 days | 1,939 sqft |
| 2021-03-01 | 9 days | 2,029 sqft |
| 2021-04-01 | 9 days | 2,170 sqft |
| 2021-05-01 | 8 days | 2,206 sqft |
| 2021-06-01 | 9 days | 2,260 sqft |
| 2021-07-01 | 16 days | 2,270 sqft |
| 2021-08-01 | 18 days | 2,218 sqft |
| 2021-09-01 | 22 days | 2,207 sqft |
| 2021-10-01 | 23 days | 2,240 sqft |
| 2021-11-01 | 30 days | 2,224 sqft |
| 2021-12-01 | 38 days | 2,200 sqft |
| 2022-01-01 | 24 days | 2,190 sqft |
| 2022-02-01 | 6 days | 2,209 sqft |
| 2022-03-01 | 6 days | 2,276 sqft |
| 2022-04-01 | 5 days | 2,299 sqft |
| 2022-05-01 | 10 days | 2,460 sqft |
| 2022-06-01 | 16 days | 2,431 sqft |
| 2022-07-01 | 23 days | 2,376 sqft |
| 2022-08-01 | 31 days | 2,327 sqft |
| 2022-09-01 | 36 days | 2,303 sqft |
| 2022-10-01 | 37 days | 2,299 sqft |
| 2022-11-01 | 46 days | 2,286 sqft |
| 2022-12-01 | 59 days | 2,250 sqft |
| 2023-01-01 | 65 days | 2,262 sqft |
| 2023-02-01 | 42 days | 2,315 sqft |
| 2023-03-01 | 27 days | 2,374 sqft |
| 2023-04-01 | 24 days | 2,449 sqft |
| 2023-05-01 | 25 days | 2,447 sqft |
| 2023-06-01 | 29 days | 2,486 sqft |
| 2023-07-01 | 31 days | 2,488 sqft |
| 2023-08-01 | 35 days | 2,408 sqft |
| 2023-09-01 | 38 days | 2,321 sqft |
| 2023-10-01 | 41 days | 2,286 sqft |
| 2023-11-01 | 48 days | 2,243 sqft |
Denver's median square footage for active listings during the 2023-11-01 period was 2,243 sqft. One year prior, the average listing was 2,286 sqft.